One Dollar Notes Before 1963

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One-Dollar Notes Before 1963 The 1963 series of Federal Reserve $1 bills is significant for two reasons. It was the first time that the Federal Reserve issued $1 notes, though the central bank had been issuing other denominations for many years before that. Also, the 1963B series note, also called the Joseph Barr Note, is well known among collectors of banknotes, and some examples sell at a premium over face value.
Between 1928 and 1963, the small-sized (6.14 --- 2.61 inches) dollar bills that circulated in the United States were either Treasury Department-issued U.S. Notes, which featured red seals, or Silver Certificates, which usually featured blue seals and could be exchanged for silver dollar coins. The Federal Reserve, the central bank of the United States established in 1913, issued larger denominations -- $5 to $10,000 -- but not singles. The rising price of silver in the early 1960's spurred the government to discontinue exchanging silver certificates for coins, so a new $1 note was needed.
Series 1963
The first Federal Reserve Series 1963 $1 note was issued in January 1963 and bore the signatures of U.S. Secretary of the Treasury C. Douglas Dillon and Treasurer of the United States Kathryn O'Hay Granahan. Though minor design changes came in later decades, current $1 notes still resemble this original Series 1963 note in most ways, including a green Federal Reserve seal, green lettering for the serial number, and the small portrait of George Washington.

Your bills are 1963 Series B $1 FRN's. Joseph Barr was U.S. Secretary of the Treasury

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